# Polestar Stones-Wheatons Limited (10062455)

> Why UK company 10062455 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/10062455

- **Status:** Administration ended
- **Administration began:** 2016-04-25
- **Administrators:** Zelf Hussain
- **Administrators' firm:** PwC
- **Formerly:** Prospect Bidco 2 Limited
- **Incorporated:** 2016-03-14
- **Location:** Leeds

## Why it went into administration

- Credit insurance / supplier credit withdrawn

## From the administrators' statement

Although the majority of customers had been successfully transferred to New PUPL 1n the initial weeks of trading, a number of material customers had delayed formally agreemg to novate During this period, New PUPL’s cash flow had been adverse to that anticipated due to the following reasons:

• Supplier ransom payments had been higher than anticipated; « Ahigher level of pro-forma payments than envisaged, and

• Slower debtor payments than initially forecasted.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/10062455/filing-history/MzE1MjQwMzQwNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/10062455

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.